XEReviews 228

Signed up last week after a friend recommended, open the account, entered all my personal info and bank details only to get an email hours later saying my transfer was cancelled and my account closed, i thought nothing of it until yesterday when checking my online statement to find $3400 had been taken from my account along with an email saying they "accidently" took out the money even though the transfer was cancelled and i would have to contact my bank, bank said theres nothing they can do on their end so now im pretty much stuck waiting on XE reversing the money which i needed to have been recieved days ago, do not do business with them, completely useless company.

Tl; dr: just use TransferWise instead - it's easier and much, much faster.

I had used XE for years - probably close to a decade - and hadn't needed to use my account for perhaps 1 or 2 years. I needed to send GBP 50 from my US personal account to my UK personal account, both of which I'd had registered for some time with XE (at least a few years). With no notification, they reversed my transfer and froze my account. I only found out when I followed up on the website to check the status of my transfer. I called on a Sunday and got their friendly New Zealand call center that couldn't help me with my issue and advised me to call back on Monday to get the North American office. I called back on Monday (today) and did get the US call center. The person was friendly and (manually) initiated my refund (which I feel should have been done automatically). I followed up with the reason as to why my account was frozen and, after a brief hold, was politely but directly told that a new audit had deemed me outside of their risk tolerance and that they "could no longer help me with future transfers."

While I fault the refund not being automatic as soon as it was denied, I cannot fault the customer service of the call center agents, who were both polite, friendly, and professional. However, between my first call around noon on Sunday and my second call at 11:45 on Monday, I was able to set up a TransferWise account, send two USD to GBP transfers, and have the funds arrive in my UK account. TrasnferWise leaves XE in the dust, so if you have not yet moved to TransferWise, do it now!

This review is about the XE sold last year to a bunch of Yahoo's. Prior to this sale, I had transferred hundreds of thousands of dollars with XE without a single problem until yesterday... Mid-transaction, after receiving my trade confirnarion, XE's "verification team" decided that I was a risk, and cancelled the order. They then proceeded to not contact me about this issue, close my account, and not refund the money that was sent to them to fund the exchange a week earlier.

After a couple days of not seeing the funds in my Aussie account, I called XE to see what was up. Talking to their Canadian and New Zealand office was pointless as they 'had no access to help and could not offer me details". Finally on the third try, I got their US office who gave me their twisted tale, refused to tell me why I was deemed a risk (as per their policy), and told that I needed to request my bank to do a "charge-back" on an ACH transaction. They also were unable to escalate me, and informed me that no contact between clients and their mysterious "Verification Team" was allowed.

Finally after calling back every hour for a whole afternoon, reminding them that they were stranding my wife and young children in a foreign country, threatening to contact the media for help, and flat out accusing them of stealing, they finally got the point and refunded the money. I can only imagine how many people less familiar with banking and foreign exchange have been caught up in their terrible BS...

Bottom line, post sale, this is not the efficient pain-free Foreign Exchange company of past. Now they are a rude, questionably competent company, that does not honor their deals nor communicate with customers willingly. They hide behind their onerous terms of service and have trained their staff to confuse and obscure instead of assist. Please do not do business with them to save yourself a lot of time and effort if things go wrong...

Left me stranded in the US for 5 days because of their errors and inaction/slowness. Poor wording on routing code/number caused 2 days delay (even the company in the US I was forwarding to was confounded by their wording--this company is used to receiving international transfers), then massive totally unnecessary delays in redoing the actual transfer from their US bank account to the company in the US that I wanted to pay, even though I had already sent xe.com the money a week earlier. This left me stranded for 3 further days. STAY AWAY!

This company has the worst customer service that any any company can possibly provide. There is lack of management as they absolutely do not care even for a loyal customer who has given this company a business for over a decade. They are so screwed up as they repeatedly ask the same question in the name of compliance. They will restrict your account with no communication and does not matter how many times you provide them with the same information. They are so disorganized as in the company's management left hand does not know what right hand is doing. Different agents tell you different stories with no facts whatsoever. They will screw up things and make you suffer with a great deal of inconvenience and frustration. Stay away from this company at any cost.

They seemed to have self destructed overnight. Just read some of the recent negative reviews. Without ranting, I experienced many of the same problems. The worst was 'Team Leader' Jonathan McGuire passing himself off as the 'highest in management' I could speak with. Condescending, weeks passing while they held my money, refusing to return it. Called up Knightsbridge Exchange. They had my transaction completed in 2 days, no problems.

Very condescending and cold when they speak or email you. Their tone is impolite and they seem to have the attitude that they are doing you a favor. I have not come across too many cases of this kind of behavior, especially when all I did was to apply for a new account (i. E. I did not have any kind of disagreements or arguments with them to warrant such behavior). Their customer service calls at 5am in the morning and then emails and says to me that they called me "several times". I would imagine that a good customer service team would be able to figure out the time zone based on the application details.

Seriously, people, PLEASE stay as far as you can from these scammers - their website menus are really hard to understand and that's just the tip of the iceberg. They are extremely slow to react and it took me weeks and endless phone calls (most of the time the people I tried to call were on voicemail) to convert a personal account into a business one. All I wanted was to send some money to an overseas supplier. But I created the wrong type of account and this opened Pandora's box. I wired them $3000 to be sent to my supplier and have been on the phone for a week now, trying to transfer the funds from the personal to the business account so I can wire it. Eventually I got fed up and asked to get the funds back but they do not give up that easily - there is always an excuse "This takes time, that takes time, this person is on vacation, that person is absent". This is the worst case of lack of service and coordination I have ever experienced, by a margin.

I am from Canada and I live in Thailand for 6 months year. Having a thai bank account here i want to trandfer money for my living. About 3000$
Every 2 months or so. You know what! They block me. I have to be in Canada to transfer! Or good is that!

With a large amount of people now travelling for long period of time. Are they blocking everyone!

I succeed to make a test transfer of 200$ to see how it work and after that i was BLOCKED.

Really not serious!

I had an absolutely terrible experience. I chose XE over OFX because of the recognition i give to XE whilst looking at live market exchange rates. Even though OFX would have saved me money, i chose XE because i have "heard" of them before.

I was purchasing a large ticket item in USA, they kept over promising times, both via phone and email on expected arrival. The recipient hadn't received funds as promised and had to cancel the deal and it has cost me a lot of money. I had flights booked, hotel booked, time scheduled off work. I have now had to purchase a vehicle in the same area for $3000 more as i already booked all those things. This is the worst experience i have ever had, i lost sleep at night and have an extremely sour taste in my mouth about ever doing a wire transfer with anyone ever again.

After some frustrations with a well-known provider I tried Xe. The site is just straightforward and obvious, totally tailored to in my case the Botswana banking system. A bank code sent to me had an error. However the correct code was looked at by the system. I only had to click my mouse twice and it was fixed.

I made two payments in less than 2 minutes. Everything was confirmed immediately by email. Within 48 hours payments were complete. The rates were excellent and the commission minimal.

So nice to work with an group who know how to develop a website. And the app looks even better.

I would highly recommend XE to anyone looking to transfer money to South Africa. The only reason I didnt give it 5 stars is due to the difficulty tracing a wire through its intermediary bank to determine what the fee that the intermediary bank charges before the funds come. I wire money to Johannesburg on a monthly basis and unfortunately XE has not been able to trace to funds to determine the fee. As a result, I never know the exact amount that will hit my account in SA and my bank typically sits on the funds for a while before depositing it. When I call the bank to inquire, the amount I provide to them doesnt actually match the amount that they receive so it is difficult for them to locate. It's usually short a dollar or two. Although I've had the same experience with other places I've used. Other than that. They are always friendly and usually give me the best exchange rate on Rand.

Fantastic company, I should have joined them years ago, just didn't know enough about them... I have been dealing with the banks and they probably overcharge for everything including my mortgage, checking, exchange currency rates... I'll give these guys a 11 star rating. When I call them they walked me through what I want and are very courteous in every way. Mel Latimer... Manassas, VA

xe.com agreed to convert USD6024. 75 to CAD7500 for me. They took the USD6024. 75 out of my USD bank account, and never deposited the CAD7500 to my CAD bank account. Instead they sent me an email saying that they decided to cancel the transaction and close my account. When I asked them to send me back the USD6024. 75 they took, they told me to contact my bank to get my money back. My bank says I need to tell xe.com to send me my money back. Xe.com is refusing to send me my money back. When I called on the phone and asked why they don't just send me my money back, they just hung up on me. In emails, they continue to tell me that my bank would do it for me, but my bank says they need to send me my money back.

xe.com are evil crooks! They stole USD6024. 75 from me and REFUSE to send it back to me! NEVER USE xe.com!

UPDATE: It has been 3 weeks since they stole my money. I went to the police station to file a police report. I hope the police can help get my money back! GIVE ME BACK MY MONEY YOU EVIL CROOKS!